- Andy Hemmings is in for Dayna with guests Jessica Hoffpauir with Capital Title and Tyler Marceauz with First Financial Bank. The topic today is commerical real estate.
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Episode Transcript
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Speaker 1 (00:01):
Welcome everybody to the Danis Simmons Real Estate Show. I'm
Andy Hemmings with Capital Title, and so glad that y'all
could listen in today. You know, we talk a lot
about residential real estate in a lot of these episodes,
but there's a lot more of the real estate world
than just residential real estate. There's a whole other world
(00:22):
out there of commercial real estate that might not get
a lot of attention. But you know, when you're driving
around town, every building that you see, every office that
you see, every company that you see, there is resident
excuse me, there is commercial real estate behind that company,
and behind that commercial real estate, there's professionals that make
these deals happen. And today we have a couple of
(00:43):
those professionals with us as our guests, and I'm so
happy y'all could be here. First off, we have mister
Tyler Marsau with First Financial Bank. Welcome Tyler, thank you, anyam,
glad to be here. We have Miss Jessica Hoffpower with
a capital title. Thanks for being here. Jessica, Thank you.
Speaker 2 (01:00):
Andy.
Speaker 1 (01:01):
You know, so to start off with, I just want
to hear let's let our audience know a little bit
about your backgrounds, you know where you're from. Just a
little bit about, just a little bit about yourself, So
go ahead, Tyler.
Speaker 3 (01:13):
Sure, Well Andy, first off, thank you for having us
on big honor for me. My name is Tyler Marso.
I'm a commercial relationship manager with First Financial Bank. I
am here in Beaumont. I am here in Beaumont, Texas,
off a Dallen Road. A little bit about me. I
actually grew up right across state border in Vent, Louisiana.
Speaker 1 (01:34):
Okay, all right, So I grew.
Speaker 3 (01:36):
Up in Vent, Louisiana and went to high school there,
and I actually went to mcgney State University.
Speaker 1 (01:41):
Okay, so go cowboys, go cowboys.
Speaker 3 (01:43):
That's right. And then shortly after college, I had an
opportunity to move to Houston to start my commercial banking career. Okay,
So me and my wife packed up everything and we
moved to Houston and had four four and a half
really good years there. Got me during that time. And
you know what happens after you get married and you
(02:04):
move is you start having children. And we had our
first son in June of last year, and as everyone knows,
children change everything. So never really thought about that's yes,
that's right. Never really thought we'd move back, but you know,
when you have a child, you really start wanting to
(02:24):
lean on that support. So we really wanted to get
back to our family, so we ended up moving back
here in February of this year. So I've been with
First Financial Bank for the last four or five months
and it's been a really, really good experience. I love
this area. I'm very familiar with Southeast Texas. Half my
family is here. So yep, that's a little bit about me.
Speaker 1 (02:46):
Yeah, gotcha. Now tell me, did you say you were
with another bank before First Financial or yes, that's correct.
Speaker 3 (02:53):
I was with Frost Bank out in Houston and really
very similar bank to First Financial that term culture, and
we worked a lot together with First Financial. When I
was with Frost, I went through their credit analyst training program.
It was about two to two and a half years.
What is that, Well, that's when you come in and
you learn everything about analyzing loan packages. You got to
(03:18):
look at financials, you create the loan package for the
actual commercial lender.
Speaker 1 (03:22):
So do they have you do that before they let
you work with with real customers like that? That's kind
of as a foundational.
Speaker 3 (03:28):
That's found as a pre wreck so before you you
can become a commercial lender in this space, you have
to go through their analyst program and you really learn
a lot and mostly, you know, you get to interact
with the customers as well, so you get that social
side as well as that analytical side. Yeah, and I
was able to work on you know, smaller real estate
(03:50):
deals to multimillion dollar commercial real estate deals, as well
as other type of loans. We look at working capital
or equipment, and there's a couple other different things we
looked at. But it was a really good experience and
I learned a lot and it's made me confident in
being a commercial lender that I have today.
Speaker 1 (04:06):
And with First Financial. Now, y'all have a number of
offices around here. I know you work out of the
Beaumont location not far from our Capital Title Boumont location,
and we do a lot of business with y'all, I mean,
First Financial and Capital. We've got a great relationship with
one another, do a lot of a lot of commercial
deals with one another. But y'all have other locations around
(04:26):
here as well, right.
Speaker 3 (04:27):
Yep, we have I believe seven locations in Southeast Texas.
We have Vider Orange, Beaumont, Port, Arthur. So we and
we're actually building a second location here in Beaumont, So
we're trying to expand here, trying to grow and there's
a lot of there's a lot of demand for more branches,
so we're trying to meet that demand.
Speaker 1 (04:46):
Really Okay, great, I always like to hear that, sir. Yeah, yeah, Well,
appreciate you being here, and we've got we're going to
cover some really interesting information about what your job looks like,
how you work with companies out there to get them
the financing they need to help grow their business and
help grow our economy. So appreciate you being here, yes, sir. Now,
(05:07):
Miss Jessica, tell us a little bit about yourself and y'all.
Jessica and I we work together at Capital Title. She
is one of our commercial closers. She has a ton
of experience in the commercial world and she's going to
be sharing some interesting things about the title process when
it comes to commercial real estate. But Jessica, just tell
our audience a little bit about yourself.
Speaker 2 (05:27):
Thank you, anddy. My name is Jessica Hoffpower. I've been
with Capital Titles since they first came to Beaumont about
eleven years ago, and I love it. It's we're a
big family. Yeah, I grew up. I was born in
El Paso, moved grew up in Beaumont for the most part,
but moved my senior year to South Carolina, and that
(05:49):
is where I graduated high school, went to college, and
then moved back to be with family. Yeah. And then
I was in the residential insurance it's property and casualty
insurance for a while, Okay, and then a friend of
mine had worked for Jefferson County Title and they needed
a processor at the time, so I interviewed and got
(06:13):
the job and have been with Title ever since and
absolutely love it. I have an eight year old son, yeah,
and a twelve year old daughter, and they keep me
on my toes. They did at all times.
Speaker 1 (06:23):
They do. They come to the office every now and
then and we get to see it. Yes, great kids.
Speaker 2 (06:28):
My daughter is my mini me. It's really hard arguing
with yourself, It really is. It really is. Yeah, But
I mean I love my job and love working with
the real estate agents and the lenders and yeah, yeah.
Speaker 1 (06:42):
You know you've You've told me a couple of times
why you like commercial real estate so much, And I
think you described it as a as a puzzle. Right,
It is a puzzle, and that kind of ties into
your background. I always found this fascinating because you didn't
say what your degree was in, rightee, criminal psychology, criminal
psychologists think.
Speaker 2 (07:03):
Which comes in handy in title. Surprisingly. Yeah, not the
criminal part, I guess, but the psychology part of.
Speaker 1 (07:09):
The psychology part. But Yeah, a lot of real estate
is solving a puzzle for your customers, and you seem
to enjoy doing that.
Speaker 2 (07:16):
It's a lot of thinking out of the box. And
my school and stuff in psychology and just college in
general has helped me do that. Just try and I
try to find ways to fix problems that people think
can't be fixed.
Speaker 1 (07:29):
Yeah.
Speaker 2 (07:30):
So, and even if I can't find ways to fix it,
I find ways that they are okay with moving forward
because we've reduced the risk as much as possible for
all parties involved. Because if there's a risk for everybody involved,
there's a risk for the title company, the underwriter, the lender,
the borrower, the seller. So we have to get everybody
on the same page.
Speaker 1 (07:50):
Yeah.
Speaker 3 (07:51):
Yeah, And I will say I've worked with Jessica personally
on a number of transactions and they do really good work.
They're on top of it, communicate very well. Communications the
key in this industry because we're constantly having to email
questions back and forth trying to figure things out. Some
real estate transactions they can get a.
Speaker 1 (08:09):
Little complicated, but they really can.
Speaker 3 (08:11):
If you have the right right lender, right title company
behind you, they can make it. The borer might not
even know anything that's going on behind those scenes, but
that I just want to give a shout out to Jessica.
Speaker 2 (08:23):
I appreciate it.
Speaker 1 (08:24):
Thank you.
Speaker 2 (08:24):
Yeah, you're a joy to work with, I promise, And
just like you said, the communication is the biggest thing.
I mean, if we understand that there's delays, there could
be delays on title side, there could be delays on
lender side. Yeah, but as long as everybody is understanding
on what's going on, it makes it so much easier.
Speaker 1 (08:41):
Yeah, it's you know, so those of you out there
listening right now, if you you know, if you own
a company, or you're looking at own a company, looking
at starting a business, you're looking at rental, real estate,
whatever it might be. There's a lot that goes into
these these commercial oriented transactions and there's some different nuances
which we're which we're going to dive into and as
(09:03):
y'all said, just communication is key because there's there's so
many different moving parts to a transaction and the opimate goal.
I mean, we all have the same goal. Everybody wants
to close. Title company wants closed, letter wants to close.
Buyer and seller definitely want to close, and all the
other parties. We're all driving in the same direction. So yeah,
that communication is part of it and solving all these
(09:24):
little problems that happen along the way. So we are
about to take a quick break and we're going to
come back and we're going to dive into just the process,
the lending process, the title process when it comes to
commercial real estate, and do a little bit of a
deeper dive. So definitely stay tuned, stay with us, even
(09:45):
if you don't own commercial real estate, You're going to
learn some things. You're gonna you're gonna come away with
some takeaways here and learn a little bit more about
the industry and kind of really what drives our economy.
This commercial real estate really drives our economy. Uh So
stay tuned. I am Andy Hemmings with a Capital Title
and you are listening to the Dana Simmons Real Estate show.
We'll be right back. Welcome back everyone to the Dana
(10:08):
Simmons Real Estate Show. This is Andy Hemmings with Capital Title,
and I just want to thank Dana for allowing me
the opportunity to come in and host the show and
bring all this great information out there to the good
people of Southeast Texas. Dana, we really appreciate you, appreciate
all your business. So what we're talking about today is
(10:30):
commercial real estate, and we have a couple of professionals
with us here, Tyler Marsall with First Financial, Jessica Hoffpower
with Capital Title, and we're going to dive into the
details of what this commercial, what a typical commercial transaction
might look like, and sign up some of the different
nuances between commercial and residential real estate. So, Tyler, whenever
(10:52):
you're doing a loan for a company, so somebody comes
with you, they've got a business and they need to
buy some real estate and they want to get started.
So tell me about what are the different types of
financing you can do for them that's going to help
them to launch that business or to grow that business,
because sometimes it's more than just the real estate involved, right,
(11:14):
So tell me about when you're working with the customer.
What are the different types of loans that might be involved.
Speaker 3 (11:19):
Yeah, a good question. We do a number of different loans,
and it's not just real estate transactions. We do a lot.
We're pretty heavy on working capital lines of credit and
that's essentially like a large credit card that's going to
revolve and that's used for operating expenses, payroll, whatever you
need to use it for. And we typically see customers
use that and then paid off once they get paid.
(11:41):
And another big loan type that we're seeing is equipment,
so we finance you know, if you own a lawn
care business and you need a fleet of trucks and
lawnmowers and whatnot, we can look at helping you with that.
Even bigger, you know, piece of equipment like bulldozers or
dump trucks. That's something we look at very often as well.
Speaker 1 (12:01):
Interesting. Yeah, okay, so that goes way beyond the real estate. Yeah,
that's interesting that that working capital line of credit. You
said that they can kind of treat it like a
credit card if you will. Yeah, Now, how do y'all
like if somebody wants, let's say, a two hundred thousand
dollars line of credit, which would probably be a fairly
small one. I would possibly what do y'all look at
in order to qualify someone for that.
Speaker 3 (12:23):
Yeah, So the first step with any kind of commercial
loan is we need to meet you. You know, we're
gonna I'm gonna have a phone call email with you,
but i'd like you to come into the office or us,
go get lunch or coffee. You know, we just want
to know who we're doing business with.
Speaker 1 (12:37):
And yeah, y'all are definitely a relationship, that's right.
Speaker 3 (12:39):
Yeah, that's first and foremost. We're the relationship aspect. First,
we want to meet you. We want you to meet
us and make sure we're a good fit. Yeah, but
you know, once once we talk and we kind of
figure out exactly what you're trying to do where you're
trying to go, then at that point it's fairly simple.
We're going to ask you for some financials, you know,
three years of personal tax returns, a personal financial statement,
(13:02):
some business tax returns, and maybe a few it depends
on the loan type of what you're trying to do.
There might be some other documents needed, but at that
point we're gonna get all those financials and we're going
to work with our analyst program or our analysts, and
we're going to create a loan package. And this loan
package is essentially going to show a cash flow of
(13:22):
the business. We want to just make sure that the
business can service the debt. We're not in the business
of giving loans out to make people struggle or see
people go under.
Speaker 1 (13:35):
We want to make sure that their operations are able
to support this financing that they're going to.
Speaker 3 (13:40):
Get exactly, and that's depending on the loan size. We
we have a local committee here that reviews most of
our loans and that's some of the big questions we ask,
you know, what other debt is out there? How is
this transaction going to help grow their business? So we're
that's there's a Our goal was to grow the Southeast
(14:01):
Texas economy. We want to help businesses around here grow
because when they grow, we grow as well. So we're
not trying to put anyone in a financial bind. But yeah,
so we'll go to our committee and and like I said,
our loan package is gonna have cash flow. We're gonna
do some research on the different types of collateral, you know,
whether it's real estate or equipment. We're gonna look at
(14:23):
the values of those whether it be appraisals or evaluations.
Speaker 1 (14:28):
Okay, So and like does somebody go on site to
their company and look at their equipment. You'll actually walk
the business and check it out.
Speaker 3 (14:36):
Yeply we try every especially real estate, every transaction, we
go visit the property. And typically business owners love giving
us tours of wherever they're trying to buy or if
they're trying to refinance their building. You know, we'll go
out and get a tour and then go get lunch.
You know, it's very common for us to do stuff
like that.
Speaker 1 (14:55):
Yeah, that all feeds into that relationships right aspect of it. Yeah,
and you just to refinance, and I think that's a
good point to kind of unpack that. You know, if
you're starting a new business, and you're looking at launching
a new business, there's one there's a certain procedures that
you'll have to go through to approve that loan because
they don't have anything demonstrated just yet, they don't have
(15:16):
any books to show you just yet. So as opposed
to they've got a company that's up and running and
they're looking to grow it, they're looking to expand. So
now they're going to do some refinancing based on the
assets that they have. So are there any differences between
those types of process as somebody that's just starting a
company and somebody that has an existing company. What are
(15:37):
some of the differences that you'll look at there?
Speaker 3 (15:39):
Yeah, Well, like I said, we're relationship focused. So if
a company has been banking with us for years and
we kind of know we can see the money coming
in and out, makes it a little easier for a
more well established company that has, you know, historical financials
that we can look at. But for like startups or
an or newers want to start a business, or let's
(16:02):
just give you an example of someone in the daycare
industry that's one to open their own daycare.
Speaker 1 (16:06):
Great example.
Speaker 3 (16:08):
So for those type of loans, we are an SBA
Preferred lender, which means we partner up with the SBA
Business Administration. Yep, that's correct, and they do really good work.
We work with them for startups where we don't really
have any historical financials that we can go off of,
(16:29):
but we're going to look at maybe projections and partnering
up with the SBA helps us get there because they're
going to guarantee a portion of the loan. So that's
the way the bank can get comfortable. Now, when you
go to the SBA route, there is you know, with
the federal government, there's a lot of rules and regulation,
so it's a little longer of a process, but once
(16:51):
you have everything in place, it's a really good product
that we offer as well.
Speaker 1 (16:54):
Yeah, what a great partnership that is for somebody that's
that's just start now.
Speaker 3 (16:58):
Yep, And we do a lot of the around south
east Texas. There's a lot of startups or small businesses
that just can't get traditional financing, so we have to
go to the SBA route and they're very appreciative and it's
a process, but we've done a lot and it's a
really good product.
Speaker 1 (17:14):
So a couple of questions from that, what constitutes a
small business? Like is there a loan maximum that you
that you're working with with them? And so that's the
first question.
Speaker 3 (17:25):
Yeah, I would say it's more on revenue size is
kind of how we look at businesses size. So we say,
you know, a small small business anywhere from five hundred
thousand in revenue to maybe ten million in revenue, and
certain you know, different banks classify sizes differently, but that's
kind of what we're looking at. And you would be surprised.
(17:47):
Even here in Beaumont, there's you know, billion dollar companies
out there, companies that are pulling in right here, a
little old bowmart. There's a lot of industry here. You
wouldn't know it. But so we see. We work with
companies that, you know, five hundred thousand revenue up to
three four hundred million dollars in revenue, so we kind
of work with them all.
Speaker 1 (18:06):
Yeah, So you mentioned something you mentioned sometimes people cannot
get financing from a traditional lender. Yeah, how would you
define like a traditional lender? How is that different from
you all?
Speaker 3 (18:18):
Well, I really meant a traditional loan in terms of
we're looking at a loan based on historical financials.
Speaker 1 (18:25):
That's why it was like a Fanny May, Freddie Mack
Catalan count, a government sponsored enterprise type loan.
Speaker 3 (18:32):
Exactly.
Speaker 1 (18:32):
Yeah, I got you, Okay, So for great information, appreciate it.
I can tell you love what you do.
Speaker 3 (18:39):
I do. It's it's been a you know, my favorite
part of this job is just getting out and getting
to meet these different business owners, entrepreneurs, and you learn
something new every day and it's really interesting how people
get very creative and they make a lot of money.
So it's fun just getting to see that at the truth. Yeah,
and being a part of that. And what's really good
(19:01):
is watching a company grow over the years and helping
them with growth capital and that that's really what makes
this job very enjoyable.
Speaker 1 (19:10):
Yeah, you know, my you're talking about people get creative
and there's there's there's always opportunity out there. My my
niece's husband, he started a company where he from what
I understand, it's he cleans hoses for the industries. That's
about all I can tell you. But he started this
(19:30):
really really cool business that he that he's growing from there.
You know, he recognized the niche and the marketplace out
there and he started it and uh and it's doing
very well. But it's people like that who come up
with these ideas that they may have a good idea,
but in order to get it launched, they need some money,
you know. And that's where you guys come in. And
(19:51):
with the way that you'll operate, being you know, the
relationship orientation that y'all have, you can go out and
you can see his facility. So I think he started
it in in his garage, you know, and he since
expanded from there. But y'all can actually go out and
see what they have going on and determine, you know,
this is a this is a worthwhile business, and we're
going to roll with it. Take a chance.
Speaker 3 (20:10):
And another thing that is really good about First Financial
Bank is we have a local border directors who are
all business people and bankers in this area. So when
we meet and we talked about a loan maybe for
some kind of startup. You know, we might not have
any historical financials for this company, but someone on the
(20:33):
one of the directors might have went to high school
with them. They say, hey, this guy is of good character. Yeah,
so and we hear that every time we meet. We're like, hey,
this guy is related to this guy, I know him
from high school. This is a man of character. So
we get that kind of personal aspect that you know,
at bigger banks you're just not going to have that.
Speaker 1 (20:52):
No, if you're dealing with a lender that's in another
city or even another state, you're definitely not going to
get that. Well, Tyler, before we head to our next break,
tell us how people can get in touch with you.
Speaker 3 (21:04):
Sure, So, like I said, I'm off of Dallan Road.
It's right next to the big HGB Plus. You can
just come in the office. I'm there from eight to five.
Typically you can come ask for me, or you can
reach me on my cell phone and my number is
four nine six seven eight three five two two. There's
multiple ways you. Just like I said, come in, I'd
(21:26):
be happy to visit with you. Say hi, I get
some coffee and.
Speaker 1 (21:29):
We'll talk great. Thanks Tyler, appreciate that. Y'all. Stay tuned
we are. When we come back from our break, we're
gonna hear from Miss Jessica on the title insurance side
of it. You may think title insurance is boring, but
Jessica's going to tell you how exciting it is. We
will be right back with the Dana Simmons Show. This
is Andy Hemmings with Capital Title. Welcome back to the
(21:54):
Danas Simmons Real Estate Show. I'm Andy Hemmings with Capital
Title and so glad to be with you here today.
And our guests today are Tyler Marsa with First Financial
Bank and Jessica Hafpower with Capital Title. And we're talking
about commercial real estate. Commercial real estate, that great sector
of our economy. That helps grow the economy, helps keep
(22:17):
our economy humming. Behind every building you see out there,
there is commercial real estate professionals involved, and we have
two of them with us here today. So, Jessica, we're
going to talk about the title insurance side of it.
And I've talked about title insurance on this show a
lot and just a just a real brief overview of
(22:39):
title insurance. Title insurance is there to protect the buyer
after closing, to make sure they don't have anything that
comes back and bites them, so to speak, any leans
against the property, any other owners that are involved in
the property. We make sure that everything when the deal
is closed, we've taken care of any leans, any loans
against the property, and all the people that are supposed
to have signed off on the documents. That's Tyler Surre.
(23:00):
It's in a nutshell, that's that's what we're there for.
But behind all that, there's a tremendous amount of research
and work that goes into making sure that happens. And Jessica,
that's what that is what you do now. Jessica, you
you've been doing this for a long time and you
have done both residential and commercial right and you still
do yes, So what would you say, are you know,
(23:21):
maybe some of the main differences between when you're looking
at a residential commercial or excuse me, a residential transaction
and a commercial transaction.
Speaker 2 (23:28):
Typically commercial transactions have are more complex, they have more entities,
they have attorneys involved, they have sometimes larger pieces of
property there. It could be a strip center with multiple leases.
So there's other things that we look at on commercial
transactions that aren't necessarily a factor in residential transaction.
Speaker 1 (23:50):
Right, there's a lot more moving parts.
Speaker 2 (23:52):
There are a lot more moving parts, and there's things
that may matter on a commercial transaction that wouldn't matter
on a So let's say you're purchasing a residential house
in a neighborhood and there may be a pipeline easement
running through your backyard. Obviously that would affect if you're
going to build a pool, But other than that, the
house is built. It's just there. Yeah, it may be active,
(24:16):
it maybe not. We don't really go into that. More,
if there's a large tract of land, which there was
one on major that same pipeline is running straight through
that and they're wanting to build a strip center, that
matters there.
Speaker 1 (24:29):
Yeah, Okay, So let's yeah, let's unpack that a little bit.
So because here in Southeast Texas, pipelines are all over
the place. They're there everywhere, they're criss crossing, there's you know,
you're you're driving over pipelines all the time. You may
not realize it. So what you just mentioned was attract
a land off a major drive. Somebody purchased it. Okay,
so you've got a buyer. They want to they purchase.
(24:49):
They want to purchase this piece of land, and they
have and intended use for it. They want to put
this building up and they're just looking at it, going Okay,
this looks like a good spot. And so that's where
our job as a title company comes in. We start
doing research to see what may affect their usage of
the land. And you mentioned that pipeline easement. So tell
me how that's discovered. What happens, you know, after we
(25:12):
start the transaction, how that looks on our end.
Speaker 2 (25:15):
So on any transaction, once we get the contract, we
submit it to our research department, our examiners, and they
do all of the research. They find who the vested
owner is of record, they find any easements, any restrictions
on the property, anything like that. So that's all founder
record leans judgments against sellers because even if it's not
(25:38):
against the property, if it's against the person it attaches to.
Speaker 1 (25:41):
I mean sometimeeople owe money to other people.
Speaker 2 (25:43):
They do, and you do have to pay back your loans. Yes,
So we find all of that and then we issue
what's called a title commitment, which is just a report
of all of it. So there's a Schedule A that
shows certain things, that shows the vested owner, the legal
description of the property, who's being insured, lender or borrower,
because we do issue a title policy to the lenders
(26:05):
as well to protect their interest while they have a
loan on the property. Schedule B is going to show restrictions, easements,
anything that we're taking exception to currently on the property
are on the policy once it's actually issued. And then
Schedule C is what we typically clear and if we
don't clear it, it then moves to Schedule B of
the policy as an exception.
Speaker 1 (26:26):
Yeah, so that's some pretty technical stuff right there, Schedules A, B, C,
and D. And you mentioned I always look at it
as that that title commitment that's like a research paper.
That's how it's a report it's a report of all
the research that was done on that property. And those
of you out there that have never been through a
real estate transaction, especially commercial real estate transaction, you would
(26:48):
be shocked at how much is discovered in this process.
You know, before title insurance came around, people would basically
be buying property on faith that everything was okay. And
that's not the case anymore. That's why the title insurance
industry was created.
Speaker 2 (27:02):
And that also affects us because all these handshake deals
years and years ago, when the documents weren't filed or
legal descriptions weren't included in the documents, that stuff that
would come up and be on schedule. See that we
need to fix, so it's not an issue for the
buyer or the lender.
Speaker 1 (27:17):
Yeah, handshake deals were only as good as the person
behind that hand doing the shaking, and sometimes they were
not real reputable folk. So you know, as whenever we
open title, we do all the research on it. Sometimes
problems are discovered. A lot of times problems are discovered
that have to get resolved. So tell us just so
(27:38):
people understand kind of what can go wrong and how
it's resolved. What's an example of something that looked like
it was going to kill the deal, like this deal
is not going through, but it was able to be resolved.
Give us an example of that.
Speaker 2 (27:52):
Well, just recently I handled a transaction which was a
new development across a couple hundred acres out in Liberty
and back to these pipeline easements. There was I want
to say six or seven pipeline easements, but they weren't
They were blanket easements, so they were across hundreds and
(28:12):
hundreds of acres of black They can be an issue
because you don't know exactly where they're at. So and
especially in a development, you need to know that you're
not building across pipelines. Yeah, that'll be an issue when
they go to sell the lots to builders, when those
builders go to sell the houses to borrow or to buyers,
it's going to become a huge issue later or if
(28:32):
the pipeline company needs to come out and dig up
their pipeline.
Speaker 1 (28:35):
Give us just a very quick definition of a blanket
easement and why that matters to a buyer.
Speaker 2 (28:40):
A blanket easement says that I am it's the pipeline
company saying I've got a pipeline somewhere within this eight
hundred acres or whatever is the legal description on the easement,
but it doesn't say exactly where.
Speaker 1 (28:55):
Yeah, so it could.
Speaker 2 (28:56):
Be on the very eastern corner, just on along the
strip and that wouldn't affect the actual development. It could
be straight through the middle. But it does not tell
us in these easements. And in the situation that I
had multiples, I want to say, four of the six
were never even activated. They just said pipelines of the easements.
(29:17):
They never even put pipelines there.
Speaker 1 (29:19):
They just said, you had to do that research to
find that out.
Speaker 2 (29:22):
Yes, our examiner found those easements, and then I tracked
the ownership of those easements from the Because we only
find the very first easement, we don't back get the
back chain of title for the actual easement because those
are sold over, I mean companies are dissolved. Their interest
is sold just like loans. So I then had to
find out who actually had the rights to that easement. Now,
(29:46):
see if it's active. If it's not, see who I
needed to get in contact to release it. And companies
like Kinder Morgan, Chevron or Shell all of that, they're
large companies. I can't just call up a number and say, hey,
how's it going. Can I get this released? So it
was a process that transaction itself took about two and
a half years.
Speaker 1 (30:06):
Yeah.
Speaker 2 (30:07):
So, but we did get five of the blanket easements released,
and then the two that were actually active easements, we
had them revised to be the specific location.
Speaker 1 (30:16):
That's a great example. And okay, so kind of explaining
what that means to you as the as the consumer.
Let's say that you're you know, you're wanting to put
in a development and there's this blanket. There's this blanket
easement there. The lender, because you mentioned the lender has
to have a title policy also, and so if it's
(30:38):
an exception to the title policy, that's going to have
to be that is going to have to be cleared
or else a lender is not going to do the loan.
Because you think about it, if the borrower the developer
just ignored that and they started building houses there without
it being cleared, now that pipeline company can come back
and say, hey, you got to tear those houses down
because you built them across our easement. That's really what
(30:59):
we're talking about, is that we're just we're we're uncovering
things that are going to affect your intended use of
the property. That if you, if you don't pay attention
to it, and you and you build something across that easement,
pipeline company can exercise their rights. That's why all that,
all that has to be cleared up before closing. And
that's and that's what we do. Okay, great information, Jessica.
(31:20):
We got a lot more. I know, we've got a
we got a lot more. So, Jessica, how do people
get in touch with you? Here's one thing, y'all. Jessica
is very very good at answering title related questions, whether
or not it's a deal with Capital Title or even
another title company out there. Jessica's very good at answering questions. So, Jessica,
how do people get in touch with you?
Speaker 2 (31:42):
They can call the office. Our number is four zero
nine eight six zero five two zero zero. My email
is Jayhoffpower at ctot dot com. But they can also
contact my team. My team is and Roe and Mary
Breeden and they're amazing as well. They also if I'm
inclosing there obviously the next.
Speaker 1 (32:03):
Thing to have them contact they'd be fun.
Speaker 2 (32:05):
They're my brains. So but my team email is team
dot Jessica at ctot dot com, So any of those
will really get to me.
Speaker 1 (32:14):
Yeah, Team dot Jessica.
Speaker 2 (32:15):
Emails probably preferred, just because I'm not always at my desk,
so but I will always get back to you.
Speaker 1 (32:20):
Yeah. Yeah, Well you do a great job at helping
the helping our consume our customers out there, so thank
you for that.
Speaker 2 (32:27):
I appreciate it.
Speaker 1 (32:28):
We're going to take a quick break and come back
for some more discussion with Tyler Marso at First Financial
Bank and Jessica Hoffpower at Capital Title. I'm Andy Hemmings
with Capital Title, and you are listening to the Dana
Simmons Real Estate Show. We'll be right back. Welcome back,
everyone to the Dana Simmons Real Estate Show. This is
Andy Hemmings with Capital Title. Thank you so much for
(32:50):
joining us today. We are talking about commercial real estate
with Tyler Marsau with First Financial and Jessica Hoffpower at
Capital Title, and y'all get some really good background on
what the commercial real estate process looks like because it's
a it's a team that puts these deals together. It's
the lender, it's the title company, it's the surveyors, it's
(33:12):
the appraisers, it's a whole team, but the backbone, it's
the real estate agents that put the deal together. Obviously
it starts with a with a sale, and so we're
talking with the two of the key players that make
these deals happen. And there's so many different types of
deals out there, so many different types of commercial real
(33:33):
estate transactions. So Tyler, I just want to ask you,
what are you seeing in the marketplace, like right here
in Southeast Texas right now? What are you seeing is
some of the more common loans people are getting.
Speaker 3 (33:44):
Yeah, well, I would say in terms of movement of transactions,
we've it's been stable over this past year. You know,
obviously when rates were lower in twenty twenty and whatnot,
we were seeing a lot more transactions. But everyone we
meet with and talk with very optimistic about the future.
And you know, we don't have a crystal ball, but
(34:05):
we can all see that rates will eventually start coming down. Yeah,
I mean the FED. The FED meets at the end
of this month, and we're expecting maybe a twenty five
base point cut, but you never know.
Speaker 1 (34:17):
But that we've been hearing this, you know, there's been
so many prognosticators out there about what's going to happen
with the interest rates. But I agree with you, the
winds are definitely blowing in the rate reduction direction.
Speaker 3 (34:30):
Yeah, so that's that's you know a lot of customers,
business owners that were waiting to jump on opportunities. We're
seeing some movement now. I think over the next year
or two, we're really going to see an uptick in
the economy, which is good for everyone involved. It is
good for titles, good for banks, good for the.
Speaker 1 (34:50):
Consumer, everybody. Absolutely, Yeah, we're we are looking forward for
those tail winds to appear. Yeah, definitely, definitely. You know,
when for people out there that are looking at getting alone,
looking at getting involved in a real estate transaction, Jessica,
what would you say are some of the things they
(35:10):
could do to help prepare to make the deal go
smoother from a title perspective, Because there's so many things that,
like we talked about, that we discover, we uncover. What
can people do to help better prepare for the deal
to go smoothly?
Speaker 2 (35:25):
Well, the first thing I would suggest is getting a
knowledgeable real estate agent. I mean that is definitely the
number one step, even before fighting the property. Yeah, they
have knowledge about the properties that you're looking at that.
They may look good, but then the agent knows things
about it that aren't going to be feasible for you, right,
(35:45):
So always get a knowledgeable real estate agent. They can
also find properties that you don't even know that aren't listed.
That just that is their job.
Speaker 1 (35:53):
Yeah.
Speaker 2 (35:54):
Also find a good lender, one that knows what they're doing.
They have multiple options for loans just to be able
to get the transaction done. That's the best for you.
Speaker 1 (36:05):
Yeah. So I mean, yeah, you know, every because I've
got a little bit of investment property, every deal that
I quote unquote found was because of a real estate agent.
You know, I just put the word out there I'm
looking for something and I let always let people know
and they brought deals to me. So yeah, real estate agents,
(36:25):
they have their finger on the pulse. And by the way,
both of my commercial loans right now are with my
first financials. Great, so we appreciate y'all. Y'all have been
my lender of choice for some time.
Speaker 3 (36:36):
So yeah, and I want to touch on that as well.
You know, most people hear commercial loans, they think of
business loans, but really a commercial loan is a loan
not to an individual for like their homestead. It can
be to a separate LLC that they set up right
for a rental property, just like in your case. So
keep that in mind. You know, we do a lot
(36:57):
of that here in healthy textas maybe it's some construction
worker or nurse in town that has some money for
a down payment on a rental property. We'll get them
to set up a little LLC real estate holding entity
and we'll lend to that entity, and that's where the
loan will be held, so it's not in your personal name.
Speaker 1 (37:14):
Yeah, that's exactly right, because and I'm so glad you
mentioned that because I did create an LLC Hmming's Rental
Properties LLC so that it protected me. Because when you
have tenants, you're exposed to potential lawsuits. Knock on wood
twenty five years, knock on wood again. So far, so good.
But if you don't have that LLC to protect you,
(37:35):
that it can literally wipe you out. And when you
do have an LLC, that's getting a loan that you
have to get a commercial type of loan. You can't
go to the traditional market for a loan.
Speaker 3 (37:45):
That's right, And we look at something like that, We're
going to look at the rental revenue coming in from
your lease or your rental agreement to cover the loan,
and typically those you know, you're not going to buy
a rental property that doesn't at least pay them moregs.
Speaker 1 (38:00):
Yeah on it.
Speaker 3 (38:00):
So it's a fairly simple process. As long as you
have the down payment there and you have good personal credit,
we can help you out.
Speaker 1 (38:07):
Yeah, definitely, and you'll definitely have So talking about those
LLCs and business entities, Jessica, what's one bit of advice
you would give to individuals out there when they're looking
at buying or selling a property through an entity? What
would you have to say.
Speaker 2 (38:25):
To them on our side of it, either side seller
or buyer is an entity, there's documentation that we need.
We need their operating agreements there, depending on the type
of entity, partnership agreements, anything that says the members, directors
of the company, what their role is, shareholders, what they're
(38:48):
authorized to do, who's authorized to sign all of that.
We do check if they're in good standing with the
Secretary of State and able to do business in the
State of Texas. If not, there's things that we need
to do from there, so that we do need to know. Obviously,
all of that regarding the entity.
Speaker 1 (39:07):
Yeah, and so if you're once again, if you are
an entity, make sure you have your paperwork together. If
you don't have an entity set up yet, get with
a good attorney. There's lots of attorneys out there. They
can handle it for you, all right, So wanted to
make sure We mentioned an upcoming event that you're participating
in Tyler with the Small Business Development Center out of Lamar,
(39:29):
So tell us a little bit about that.
Speaker 3 (39:31):
Yeah, and so on August nineteenth, from eleven to one pm,
First Financial Bank, we're going to partner with the Lamar University,
they're Small Business Development Center, and we're going to put
on a really good lunch and learn and actually it's
going to be sponsored by Capitol Title.
Speaker 1 (39:47):
Well hat's right.
Speaker 3 (39:48):
We'll have free lunch there. So y'all come eat and
learn with us. We appreciate it, Andy, But anyways, this class,
it's really it's focused towards how to get a commercial loan,
and we're gearing this really towards small business owners or
entrepreneurs that have plans or dreams of starting their own business.
(40:08):
And what we see in the market is we see
really good operators. They really know how to run their
business in terms of the operation, but they're not sure
how to go about getting bank financing or how bookkeeping
or what they need to see on the financial side. Yeah,
so that's where we want to come and just educate.
We want to we're going to hint on things of
(40:29):
you know, what documents are needed, how to write a
business plan, how to fill these documents out correctly, and
we're going to give them tips on you know, how
to grow your business and how to get growth capital
from a bank.
Speaker 1 (40:43):
So that what a great opportunity and thank you all
for putting that on. And it's August nineteenth, from eleven
to one at the Small Business Development Center right there
at Lamar University. I think it's off of Rolf Christopher
Drive if I recall. It's been there for a while.
And mister John Lee, he's the director of the Small
Business Developments, so he's putting that together. It's going to
be a great event and we're happy to be participating
(41:06):
in it with you.
Speaker 3 (41:07):
Yeah, and i'd like to say you can go to
SBDC dot uh dot EEDU to find it. Just go
to their events. It's a free event, free food to
come out, hang out and we'll answer any questions you.
Speaker 1 (41:18):
Have perfect Thank you listen. I appreciate y'all both coming
in today to share some great information about commercial real
estate out there. And Jessica just I love working with
you and thank you what you do for Thank you
for what you do for all of our customers. Thank you, Tyler,
thank you for supporting a Capital Title, and we appreciate
our relationship with you and Dana. Thank you for allowing
(41:40):
us to put on your show today. We appreciate you
and listen. If y'all ever have any questions about Title,
you can also call me at four nine six five
eight three six nine five, happy to help you get
you directed in the right direction to take care of
whatever you need. Thank y'all very much. Y'all enjoy your
(42:01):
weekend and looking forward to being here again next time.
Speaker 2 (42:06):
M HM.
Welcome everybody to the Danis Simmons Real Estate Show. I'm
Andy Hemmings with Capital Title, and so glad that y'all
could listen in today. You know, we talk a lot
about residential real estate in a lot of these episodes,
but there's a lot more of the real estate world
than just residential real estate. There's a whole other world
(00:22):
out there of commercial real estate that might not get
a lot of attention. But you know, when you're driving
around town, every building that you see, every office that
you see, every company that you see, there is resident
excuse me, there is commercial real estate behind that company,
and behind that commercial real estate, there's professionals that make
these deals happen. And today we have a couple of
(00:43):
those professionals with us as our guests, and I'm so
happy y'all could be here. First off, we have mister
Tyler Marsau with First Financial Bank. Welcome Tyler, thank you, anyam,
glad to be here. We have Miss Jessica Hoffpower with
a capital title. Thanks for being here. Jessica, Thank you.
Speaker 2 (01:00):
Andy.
Speaker 1 (01:01):
You know, so to start off with, I just want
to hear let's let our audience know a little bit
about your backgrounds, you know where you're from. Just a
little bit about, just a little bit about yourself, So
go ahead, Tyler.
Speaker 3 (01:13):
Sure, Well Andy, first off, thank you for having us
on big honor for me. My name is Tyler Marso.
I'm a commercial relationship manager with First Financial Bank. I
am here in Beaumont. I am here in Beaumont, Texas,
off a Dallen Road. A little bit about me. I
actually grew up right across state border in Vent, Louisiana.
Speaker 1 (01:34):
Okay, all right, So I grew.
Speaker 3 (01:36):
Up in Vent, Louisiana and went to high school there,
and I actually went to mcgney State University.
Speaker 1 (01:41):
Okay, so go cowboys, go cowboys.
Speaker 3 (01:43):
That's right. And then shortly after college, I had an
opportunity to move to Houston to start my commercial banking career. Okay,
So me and my wife packed up everything and we
moved to Houston and had four four and a half
really good years there. Got me during that time. And
you know what happens after you get married and you
(02:04):
move is you start having children. And we had our
first son in June of last year, and as everyone knows,
children change everything. So never really thought about that's yes,
that's right. Never really thought we'd move back, but you know,
when you have a child, you really start wanting to
(02:24):
lean on that support. So we really wanted to get
back to our family, so we ended up moving back
here in February of this year. So I've been with
First Financial Bank for the last four or five months
and it's been a really, really good experience. I love
this area. I'm very familiar with Southeast Texas. Half my
family is here. So yep, that's a little bit about me.
Speaker 1 (02:46):
Yeah, gotcha. Now tell me, did you say you were
with another bank before First Financial or yes, that's correct.
Speaker 3 (02:53):
I was with Frost Bank out in Houston and really
very similar bank to First Financial that term culture, and
we worked a lot together with First Financial. When I
was with Frost, I went through their credit analyst training program.
It was about two to two and a half years.
What is that, Well, that's when you come in and
you learn everything about analyzing loan packages. You got to
(03:18):
look at financials, you create the loan package for the
actual commercial lender.
Speaker 1 (03:22):
So do they have you do that before they let
you work with with real customers like that? That's kind
of as a foundational.
Speaker 3 (03:28):
That's found as a pre wreck so before you you
can become a commercial lender in this space, you have
to go through their analyst program and you really learn
a lot and mostly, you know, you get to interact
with the customers as well, so you get that social
side as well as that analytical side. Yeah, and I
was able to work on you know, smaller real estate
(03:50):
deals to multimillion dollar commercial real estate deals, as well
as other type of loans. We look at working capital
or equipment, and there's a couple other different things we
looked at. But it was a really good experience and
I learned a lot and it's made me confident in
being a commercial lender that I have today.
Speaker 1 (04:06):
And with First Financial. Now, y'all have a number of
offices around here. I know you work out of the
Beaumont location not far from our Capital Title Boumont location,
and we do a lot of business with y'all, I mean,
First Financial and Capital. We've got a great relationship with
one another, do a lot of a lot of commercial
deals with one another. But y'all have other locations around
(04:26):
here as well, right.
Speaker 3 (04:27):
Yep, we have I believe seven locations in Southeast Texas.
We have Vider Orange, Beaumont, Port, Arthur. So we and
we're actually building a second location here in Beaumont, So
we're trying to expand here, trying to grow and there's
a lot of there's a lot of demand for more branches,
so we're trying to meet that demand.
Speaker 1 (04:46):
Really Okay, great, I always like to hear that, sir. Yeah, yeah, Well,
appreciate you being here, and we've got we're going to
cover some really interesting information about what your job looks like,
how you work with companies out there to get them
the financing they need to help grow their business and
help grow our economy. So appreciate you being here, yes, sir. Now,
(05:07):
Miss Jessica, tell us a little bit about yourself and y'all.
Jessica and I we work together at Capital Title. She
is one of our commercial closers. She has a ton
of experience in the commercial world and she's going to
be sharing some interesting things about the title process when
it comes to commercial real estate. But Jessica, just tell
our audience a little bit about yourself.
Speaker 2 (05:27):
Thank you, anddy. My name is Jessica Hoffpower. I've been
with Capital Titles since they first came to Beaumont about
eleven years ago, and I love it. It's we're a
big family. Yeah, I grew up. I was born in
El Paso, moved grew up in Beaumont for the most part,
but moved my senior year to South Carolina, and that
(05:49):
is where I graduated high school, went to college, and
then moved back to be with family. Yeah. And then
I was in the residential insurance it's property and casualty
insurance for a while, Okay, and then a friend of
mine had worked for Jefferson County Title and they needed
a processor at the time, so I interviewed and got
(06:13):
the job and have been with Title ever since and
absolutely love it. I have an eight year old son, yeah,
and a twelve year old daughter, and they keep me
on my toes. They did at all times.
Speaker 1 (06:23):
They do. They come to the office every now and
then and we get to see it. Yes, great kids.
Speaker 2 (06:28):
My daughter is my mini me. It's really hard arguing
with yourself, It really is. It really is. Yeah, But
I mean I love my job and love working with
the real estate agents and the lenders and yeah, yeah.
Speaker 1 (06:42):
You know you've You've told me a couple of times
why you like commercial real estate so much, And I
think you described it as a as a puzzle. Right,
It is a puzzle, and that kind of ties into
your background. I always found this fascinating because you didn't
say what your degree was in, rightee, criminal psychology, criminal
psychologists think.
Speaker 2 (07:03):
Which comes in handy in title. Surprisingly. Yeah, not the
criminal part, I guess, but the psychology part of.
Speaker 1 (07:09):
The psychology part. But Yeah, a lot of real estate
is solving a puzzle for your customers, and you seem
to enjoy doing that.
Speaker 2 (07:16):
It's a lot of thinking out of the box. And
my school and stuff in psychology and just college in
general has helped me do that. Just try and I
try to find ways to fix problems that people think
can't be fixed.
Speaker 1 (07:29):
Yeah.
Speaker 2 (07:30):
So, and even if I can't find ways to fix it,
I find ways that they are okay with moving forward
because we've reduced the risk as much as possible for
all parties involved. Because if there's a risk for everybody involved,
there's a risk for the title company, the underwriter, the lender,
the borrower, the seller. So we have to get everybody
on the same page.
Speaker 1 (07:50):
Yeah.
Speaker 3 (07:51):
Yeah, And I will say I've worked with Jessica personally
on a number of transactions and they do really good work.
They're on top of it, communicate very well. Communications the
key in this industry because we're constantly having to email
questions back and forth trying to figure things out. Some
real estate transactions they can get a.
Speaker 1 (08:09):
Little complicated, but they really can.
Speaker 3 (08:11):
If you have the right right lender, right title company
behind you, they can make it. The borer might not
even know anything that's going on behind those scenes, but
that I just want to give a shout out to Jessica.
Speaker 2 (08:23):
I appreciate it.
Speaker 1 (08:24):
Thank you.
Speaker 2 (08:24):
Yeah, you're a joy to work with, I promise, And
just like you said, the communication is the biggest thing.
I mean, if we understand that there's delays, there could
be delays on title side, there could be delays on
lender side. Yeah, but as long as everybody is understanding
on what's going on, it makes it so much easier.
Speaker 1 (08:41):
Yeah, it's you know, so those of you out there
listening right now, if you you know, if you own
a company, or you're looking at own a company, looking
at starting a business, you're looking at rental, real estate,
whatever it might be. There's a lot that goes into
these these commercial oriented transactions and there's some different nuances
which we're which we're going to dive into and as
(09:03):
y'all said, just communication is key because there's there's so
many different moving parts to a transaction and the opimate goal.
I mean, we all have the same goal. Everybody wants
to close. Title company wants closed, letter wants to close.
Buyer and seller definitely want to close, and all the
other parties. We're all driving in the same direction. So yeah,
that communication is part of it and solving all these
(09:24):
little problems that happen along the way. So we are
about to take a quick break and we're going to
come back and we're going to dive into just the process,
the lending process, the title process when it comes to
commercial real estate, and do a little bit of a
deeper dive. So definitely stay tuned, stay with us, even
(09:45):
if you don't own commercial real estate, You're going to
learn some things. You're gonna you're gonna come away with
some takeaways here and learn a little bit more about
the industry and kind of really what drives our economy.
This commercial real estate really drives our economy. Uh So
stay tuned. I am Andy Hemmings with a Capital Title
and you are listening to the Dana Simmons Real Estate show.
We'll be right back. Welcome back everyone to the Dana
(10:08):
Simmons Real Estate Show. This is Andy Hemmings with Capital Title,
and I just want to thank Dana for allowing me
the opportunity to come in and host the show and
bring all this great information out there to the good
people of Southeast Texas. Dana, we really appreciate you, appreciate
all your business. So what we're talking about today is
(10:30):
commercial real estate, and we have a couple of professionals
with us here, Tyler Marsall with First Financial, Jessica Hoffpower
with Capital Title, and we're going to dive into the
details of what this commercial, what a typical commercial transaction
might look like, and sign up some of the different
nuances between commercial and residential real estate. So, Tyler, whenever
(10:52):
you're doing a loan for a company, so somebody comes
with you, they've got a business and they need to
buy some real estate and they want to get started.
So tell me about what are the different types of
financing you can do for them that's going to help
them to launch that business or to grow that business,
because sometimes it's more than just the real estate involved, right,
(11:14):
So tell me about when you're working with the customer.
What are the different types of loans that might be involved.
Speaker 3 (11:19):
Yeah, a good question. We do a number of different loans,
and it's not just real estate transactions. We do a lot.
We're pretty heavy on working capital lines of credit and
that's essentially like a large credit card that's going to
revolve and that's used for operating expenses, payroll, whatever you
need to use it for. And we typically see customers
use that and then paid off once they get paid.
(11:41):
And another big loan type that we're seeing is equipment,
so we finance you know, if you own a lawn
care business and you need a fleet of trucks and
lawnmowers and whatnot, we can look at helping you with that.
Even bigger, you know, piece of equipment like bulldozers or
dump trucks. That's something we look at very often as well.
Speaker 1 (12:01):
Interesting. Yeah, okay, so that goes way beyond the real estate. Yeah,
that's interesting that that working capital line of credit. You
said that they can kind of treat it like a
credit card if you will. Yeah, Now, how do y'all
like if somebody wants, let's say, a two hundred thousand
dollars line of credit, which would probably be a fairly
small one. I would possibly what do y'all look at
in order to qualify someone for that.
Speaker 3 (12:23):
Yeah, So the first step with any kind of commercial
loan is we need to meet you. You know, we're
gonna I'm gonna have a phone call email with you,
but i'd like you to come into the office or us,
go get lunch or coffee. You know, we just want
to know who we're doing business with.
Speaker 1 (12:37):
And yeah, y'all are definitely a relationship, that's right.
Speaker 3 (12:39):
Yeah, that's first and foremost. We're the relationship aspect. First,
we want to meet you. We want you to meet
us and make sure we're a good fit. Yeah, but
you know, once once we talk and we kind of
figure out exactly what you're trying to do where you're
trying to go, then at that point it's fairly simple.
We're going to ask you for some financials, you know,
three years of personal tax returns, a personal financial statement,
(13:02):
some business tax returns, and maybe a few it depends
on the loan type of what you're trying to do.
There might be some other documents needed, but at that
point we're gonna get all those financials and we're going
to work with our analyst program or our analysts, and
we're going to create a loan package. And this loan
package is essentially going to show a cash flow of
(13:22):
the business. We want to just make sure that the
business can service the debt. We're not in the business
of giving loans out to make people struggle or see
people go under.
Speaker 1 (13:35):
We want to make sure that their operations are able
to support this financing that they're going to.
Speaker 3 (13:40):
Get exactly, and that's depending on the loan size. We
we have a local committee here that reviews most of
our loans and that's some of the big questions we ask,
you know, what other debt is out there? How is
this transaction going to help grow their business? So we're
that's there's a Our goal was to grow the Southeast
(14:01):
Texas economy. We want to help businesses around here grow
because when they grow, we grow as well. So we're
not trying to put anyone in a financial bind. But yeah,
so we'll go to our committee and and like I said,
our loan package is gonna have cash flow. We're gonna
do some research on the different types of collateral, you know,
whether it's real estate or equipment. We're gonna look at
(14:23):
the values of those whether it be appraisals or evaluations.
Speaker 1 (14:28):
Okay, So and like does somebody go on site to
their company and look at their equipment. You'll actually walk
the business and check it out.
Speaker 3 (14:36):
Yeply we try every especially real estate, every transaction, we
go visit the property. And typically business owners love giving
us tours of wherever they're trying to buy or if
they're trying to refinance their building. You know, we'll go
out and get a tour and then go get lunch.
You know, it's very common for us to do stuff
like that.
Speaker 1 (14:55):
Yeah, that all feeds into that relationships right aspect of it. Yeah,
and you just to refinance, and I think that's a
good point to kind of unpack that. You know, if
you're starting a new business, and you're looking at launching
a new business, there's one there's a certain procedures that
you'll have to go through to approve that loan because
they don't have anything demonstrated just yet, they don't have
(15:16):
any books to show you just yet. So as opposed
to they've got a company that's up and running and
they're looking to grow it, they're looking to expand. So
now they're going to do some refinancing based on the
assets that they have. So are there any differences between
those types of process as somebody that's just starting a
company and somebody that has an existing company. What are
(15:37):
some of the differences that you'll look at there?
Speaker 3 (15:39):
Yeah, Well, like I said, we're relationship focused. So if
a company has been banking with us for years and
we kind of know we can see the money coming
in and out, makes it a little easier for a
more well established company that has, you know, historical financials
that we can look at. But for like startups or
an or newers want to start a business, or let's
(16:02):
just give you an example of someone in the daycare
industry that's one to open their own daycare.
Speaker 1 (16:06):
Great example.
Speaker 3 (16:08):
So for those type of loans, we are an SBA
Preferred lender, which means we partner up with the SBA
Business Administration. Yep, that's correct, and they do really good work.
We work with them for startups where we don't really
have any historical financials that we can go off of,
(16:29):
but we're going to look at maybe projections and partnering
up with the SBA helps us get there because they're
going to guarantee a portion of the loan. So that's
the way the bank can get comfortable. Now, when you
go to the SBA route, there is you know, with
the federal government, there's a lot of rules and regulation,
so it's a little longer of a process, but once
(16:51):
you have everything in place, it's a really good product
that we offer as well.
Speaker 1 (16:54):
Yeah, what a great partnership that is for somebody that's
that's just start now.
Speaker 3 (16:58):
Yep, And we do a lot of the around south
east Texas. There's a lot of startups or small businesses
that just can't get traditional financing, so we have to
go to the SBA route and they're very appreciative and it's
a process, but we've done a lot and it's a
really good product.
Speaker 1 (17:14):
So a couple of questions from that, what constitutes a
small business? Like is there a loan maximum that you
that you're working with with them? And so that's the
first question.
Speaker 3 (17:25):
Yeah, I would say it's more on revenue size is
kind of how we look at businesses size. So we say,
you know, a small small business anywhere from five hundred
thousand in revenue to maybe ten million in revenue, and
certain you know, different banks classify sizes differently, but that's
kind of what we're looking at. And you would be surprised.
(17:47):
Even here in Beaumont, there's you know, billion dollar companies
out there, companies that are pulling in right here, a
little old bowmart. There's a lot of industry here. You
wouldn't know it. But so we see. We work with
companies that, you know, five hundred thousand revenue up to
three four hundred million dollars in revenue, so we kind
of work with them all.
Speaker 1 (18:06):
Yeah, So you mentioned something you mentioned sometimes people cannot
get financing from a traditional lender. Yeah, how would you
define like a traditional lender? How is that different from
you all?
Speaker 3 (18:18):
Well, I really meant a traditional loan in terms of
we're looking at a loan based on historical financials.
Speaker 1 (18:25):
That's why it was like a Fanny May, Freddie Mack
Catalan count, a government sponsored enterprise type loan.
Speaker 3 (18:32):
Exactly.
Speaker 1 (18:32):
Yeah, I got you, Okay, So for great information, appreciate it.
I can tell you love what you do.
Speaker 3 (18:39):
I do. It's it's been a you know, my favorite
part of this job is just getting out and getting
to meet these different business owners, entrepreneurs, and you learn
something new every day and it's really interesting how people
get very creative and they make a lot of money.
So it's fun just getting to see that at the truth. Yeah,
and being a part of that. And what's really good
(19:01):
is watching a company grow over the years and helping
them with growth capital and that that's really what makes
this job very enjoyable.
Speaker 1 (19:10):
Yeah, you know, my you're talking about people get creative
and there's there's there's always opportunity out there. My my
niece's husband, he started a company where he from what
I understand, it's he cleans hoses for the industries. That's
about all I can tell you. But he started this
(19:30):
really really cool business that he that he's growing from there.
You know, he recognized the niche and the marketplace out
there and he started it and uh and it's doing
very well. But it's people like that who come up
with these ideas that they may have a good idea,
but in order to get it launched, they need some money,
you know. And that's where you guys come in. And
(19:51):
with the way that you'll operate, being you know, the
relationship orientation that y'all have, you can go out and
you can see his facility. So I think he started
it in in his garage, you know, and he since
expanded from there. But y'all can actually go out and
see what they have going on and determine, you know,
this is a this is a worthwhile business, and we're
going to roll with it. Take a chance.
Speaker 3 (20:10):
And another thing that is really good about First Financial
Bank is we have a local border directors who are
all business people and bankers in this area. So when
we meet and we talked about a loan maybe for
some kind of startup. You know, we might not have
any historical financials for this company, but someone on the
(20:33):
one of the directors might have went to high school
with them. They say, hey, this guy is of good character. Yeah,
so and we hear that every time we meet. We're like, hey,
this guy is related to this guy, I know him
from high school. This is a man of character. So
we get that kind of personal aspect that you know,
at bigger banks you're just not going to have that.
Speaker 1 (20:52):
No, if you're dealing with a lender that's in another
city or even another state, you're definitely not going to
get that. Well, Tyler, before we head to our next break,
tell us how people can get in touch with you.
Speaker 3 (21:04):
Sure, So, like I said, I'm off of Dallan Road.
It's right next to the big HGB Plus. You can
just come in the office. I'm there from eight to five.
Typically you can come ask for me, or you can
reach me on my cell phone and my number is
four nine six seven eight three five two two. There's
multiple ways you. Just like I said, come in, I'd
(21:26):
be happy to visit with you. Say hi, I get
some coffee and.
Speaker 1 (21:29):
We'll talk great. Thanks Tyler, appreciate that. Y'all. Stay tuned
we are. When we come back from our break, we're
gonna hear from Miss Jessica on the title insurance side
of it. You may think title insurance is boring, but
Jessica's going to tell you how exciting it is. We
will be right back with the Dana Simmons Show. This
is Andy Hemmings with Capital Title. Welcome back to the
(21:54):
Danas Simmons Real Estate Show. I'm Andy Hemmings with Capital
Title and so glad to be with you here today.
And our guests today are Tyler Marsa with First Financial
Bank and Jessica Hafpower with Capital Title. And we're talking
about commercial real estate. Commercial real estate, that great sector
of our economy. That helps grow the economy, helps keep
(22:17):
our economy humming. Behind every building you see out there,
there is commercial real estate professionals involved, and we have
two of them with us here today. So, Jessica, we're
going to talk about the title insurance side of it.
And I've talked about title insurance on this show a
lot and just a just a real brief overview of
(22:39):
title insurance. Title insurance is there to protect the buyer
after closing, to make sure they don't have anything that
comes back and bites them, so to speak, any leans
against the property, any other owners that are involved in
the property. We make sure that everything when the deal
is closed, we've taken care of any leans, any loans
against the property, and all the people that are supposed
to have signed off on the documents. That's Tyler Surre.
(23:00):
It's in a nutshell, that's that's what we're there for.
But behind all that, there's a tremendous amount of research
and work that goes into making sure that happens. And Jessica,
that's what that is what you do now. Jessica, you
you've been doing this for a long time and you
have done both residential and commercial right and you still
do yes, So what would you say, are you know,
(23:21):
maybe some of the main differences between when you're looking
at a residential commercial or excuse me, a residential transaction
and a commercial transaction.
Speaker 2 (23:28):
Typically commercial transactions have are more complex, they have more entities,
they have attorneys involved, they have sometimes larger pieces of
property there. It could be a strip center with multiple leases.
So there's other things that we look at on commercial
transactions that aren't necessarily a factor in residential transaction.
Speaker 1 (23:50):
Right, there's a lot more moving parts.
Speaker 2 (23:52):
There are a lot more moving parts, and there's things
that may matter on a commercial transaction that wouldn't matter
on a So let's say you're purchasing a residential house
in a neighborhood and there may be a pipeline easement
running through your backyard. Obviously that would affect if you're
going to build a pool, But other than that, the
house is built. It's just there. Yeah, it may be active,
(24:16):
it maybe not. We don't really go into that. More,
if there's a large tract of land, which there was
one on major that same pipeline is running straight through
that and they're wanting to build a strip center, that
matters there.
Speaker 1 (24:29):
Yeah, Okay, So let's yeah, let's unpack that a little bit.
So because here in Southeast Texas, pipelines are all over
the place. They're there everywhere, they're criss crossing, there's you know,
you're you're driving over pipelines all the time. You may
not realize it. So what you just mentioned was attract
a land off a major drive. Somebody purchased it. Okay,
so you've got a buyer. They want to they purchase.
(24:49):
They want to purchase this piece of land, and they
have and intended use for it. They want to put
this building up and they're just looking at it, going Okay,
this looks like a good spot. And so that's where
our job as a title company comes in. We start
doing research to see what may affect their usage of
the land. And you mentioned that pipeline easement. So tell
me how that's discovered. What happens, you know, after we
(25:12):
start the transaction, how that looks on our end.
Speaker 2 (25:15):
So on any transaction, once we get the contract, we
submit it to our research department, our examiners, and they
do all of the research. They find who the vested
owner is of record, they find any easements, any restrictions
on the property, anything like that. So that's all founder
record leans judgments against sellers because even if it's not
(25:38):
against the property, if it's against the person it attaches to.
Speaker 1 (25:41):
I mean sometimeeople owe money to other people.
Speaker 2 (25:43):
They do, and you do have to pay back your loans. Yes,
So we find all of that and then we issue
what's called a title commitment, which is just a report
of all of it. So there's a Schedule A that
shows certain things, that shows the vested owner, the legal
description of the property, who's being insured, lender or borrower,
because we do issue a title policy to the lenders
(26:05):
as well to protect their interest while they have a
loan on the property. Schedule B is going to show restrictions, easements,
anything that we're taking exception to currently on the property
are on the policy once it's actually issued. And then
Schedule C is what we typically clear and if we
don't clear it, it then moves to Schedule B of
the policy as an exception.
Speaker 1 (26:26):
Yeah, so that's some pretty technical stuff right there, Schedules A, B, C,
and D. And you mentioned I always look at it
as that that title commitment that's like a research paper.
That's how it's a report it's a report of all
the research that was done on that property. And those
of you out there that have never been through a
real estate transaction, especially commercial real estate transaction, you would
(26:48):
be shocked at how much is discovered in this process.
You know, before title insurance came around, people would basically
be buying property on faith that everything was okay. And
that's not the case anymore. That's why the title insurance
industry was created.
Speaker 2 (27:02):
And that also affects us because all these handshake deals
years and years ago, when the documents weren't filed or
legal descriptions weren't included in the documents, that stuff that
would come up and be on schedule. See that we
need to fix, so it's not an issue for the
buyer or the lender.
Speaker 1 (27:17):
Yeah, handshake deals were only as good as the person
behind that hand doing the shaking, and sometimes they were
not real reputable folk. So you know, as whenever we
open title, we do all the research on it. Sometimes
problems are discovered. A lot of times problems are discovered
that have to get resolved. So tell us just so
(27:38):
people understand kind of what can go wrong and how
it's resolved. What's an example of something that looked like
it was going to kill the deal, like this deal
is not going through, but it was able to be resolved.
Give us an example of that.
Speaker 2 (27:52):
Well, just recently I handled a transaction which was a
new development across a couple hundred acres out in Liberty
and back to these pipeline easements. There was I want
to say six or seven pipeline easements, but they weren't
They were blanket easements, so they were across hundreds and
(28:12):
hundreds of acres of black They can be an issue
because you don't know exactly where they're at. So and
especially in a development, you need to know that you're
not building across pipelines. Yeah, that'll be an issue when
they go to sell the lots to builders, when those
builders go to sell the houses to borrow or to buyers,
it's going to become a huge issue later or if
(28:32):
the pipeline company needs to come out and dig up
their pipeline.
Speaker 1 (28:35):
Give us just a very quick definition of a blanket
easement and why that matters to a buyer.
Speaker 2 (28:40):
A blanket easement says that I am it's the pipeline
company saying I've got a pipeline somewhere within this eight
hundred acres or whatever is the legal description on the easement,
but it doesn't say exactly where.
Speaker 1 (28:55):
Yeah, so it could.
Speaker 2 (28:56):
Be on the very eastern corner, just on along the
strip and that wouldn't affect the actual development. It could
be straight through the middle. But it does not tell
us in these easements. And in the situation that I
had multiples, I want to say, four of the six
were never even activated. They just said pipelines of the easements.
(29:17):
They never even put pipelines there.
Speaker 1 (29:19):
They just said, you had to do that research to
find that out.
Speaker 2 (29:22):
Yes, our examiner found those easements, and then I tracked
the ownership of those easements from the Because we only
find the very first easement, we don't back get the
back chain of title for the actual easement because those
are sold over, I mean companies are dissolved. Their interest
is sold just like loans. So I then had to
find out who actually had the rights to that easement. Now,
(29:46):
see if it's active. If it's not, see who I
needed to get in contact to release it. And companies
like Kinder Morgan, Chevron or Shell all of that, they're
large companies. I can't just call up a number and say, hey,
how's it going. Can I get this released? So it
was a process that transaction itself took about two and
a half years.
Speaker 1 (30:06):
Yeah.
Speaker 2 (30:07):
So, but we did get five of the blanket easements released,
and then the two that were actually active easements, we
had them revised to be the specific location.
Speaker 1 (30:16):
That's a great example. And okay, so kind of explaining
what that means to you as the as the consumer.
Let's say that you're you know, you're wanting to put
in a development and there's this blanket. There's this blanket
easement there. The lender, because you mentioned the lender has
to have a title policy also, and so if it's
(30:38):
an exception to the title policy, that's going to have
to be that is going to have to be cleared
or else a lender is not going to do the loan.
Because you think about it, if the borrower the developer
just ignored that and they started building houses there without
it being cleared, now that pipeline company can come back
and say, hey, you got to tear those houses down
because you built them across our easement. That's really what
(30:59):
we're talking about, is that we're just we're we're uncovering
things that are going to affect your intended use of
the property. That if you, if you don't pay attention
to it, and you and you build something across that easement,
pipeline company can exercise their rights. That's why all that,
all that has to be cleared up before closing. And
that's and that's what we do. Okay, great information, Jessica.
(31:20):
We got a lot more. I know, we've got a
we got a lot more. So, Jessica, how do people
get in touch with you? Here's one thing, y'all. Jessica
is very very good at answering title related questions, whether
or not it's a deal with Capital Title or even
another title company out there. Jessica's very good at answering questions. So, Jessica,
how do people get in touch with you?
Speaker 2 (31:42):
They can call the office. Our number is four zero
nine eight six zero five two zero zero. My email
is Jayhoffpower at ctot dot com. But they can also
contact my team. My team is and Roe and Mary
Breeden and they're amazing as well. They also if I'm
inclosing there obviously the next.
Speaker 1 (32:03):
Thing to have them contact they'd be fun.
Speaker 2 (32:05):
They're my brains. So but my team email is team
dot Jessica at ctot dot com, So any of those
will really get to me.
Speaker 1 (32:14):
Yeah, Team dot Jessica.
Speaker 2 (32:15):
Emails probably preferred, just because I'm not always at my desk,
so but I will always get back to you.
Speaker 1 (32:20):
Yeah. Yeah, Well you do a great job at helping
the helping our consume our customers out there, so thank
you for that.
Speaker 2 (32:27):
I appreciate it.
Speaker 1 (32:28):
We're going to take a quick break and come back
for some more discussion with Tyler Marso at First Financial
Bank and Jessica Hoffpower at Capital Title. I'm Andy Hemmings
with Capital Title, and you are listening to the Dana
Simmons Real Estate Show. We'll be right back. Welcome back,
everyone to the Dana Simmons Real Estate Show. This is
Andy Hemmings with Capital Title. Thank you so much for
(32:50):
joining us today. We are talking about commercial real estate
with Tyler Marsau with First Financial and Jessica Hoffpower at
Capital Title, and y'all get some really good background on
what the commercial real estate process looks like because it's
a it's a team that puts these deals together. It's
the lender, it's the title company, it's the surveyors, it's
(33:12):
the appraisers, it's a whole team, but the backbone, it's
the real estate agents that put the deal together. Obviously
it starts with a with a sale, and so we're
talking with the two of the key players that make
these deals happen. And there's so many different types of
deals out there, so many different types of commercial real
(33:33):
estate transactions. So Tyler, I just want to ask you,
what are you seeing in the marketplace, like right here
in Southeast Texas right now? What are you seeing is
some of the more common loans people are getting.
Speaker 3 (33:44):
Yeah, well, I would say in terms of movement of transactions,
we've it's been stable over this past year. You know,
obviously when rates were lower in twenty twenty and whatnot,
we were seeing a lot more transactions. But everyone we
meet with and talk with very optimistic about the future.
And you know, we don't have a crystal ball, but
(34:05):
we can all see that rates will eventually start coming down. Yeah,
I mean the FED. The FED meets at the end
of this month, and we're expecting maybe a twenty five
base point cut, but you never know.
Speaker 1 (34:17):
But that we've been hearing this, you know, there's been
so many prognosticators out there about what's going to happen
with the interest rates. But I agree with you, the
winds are definitely blowing in the rate reduction direction.
Speaker 3 (34:30):
Yeah, so that's that's you know a lot of customers,
business owners that were waiting to jump on opportunities. We're
seeing some movement now. I think over the next year
or two, we're really going to see an uptick in
the economy, which is good for everyone involved. It is
good for titles, good for banks, good for the.
Speaker 1 (34:50):
Consumer, everybody. Absolutely, Yeah, we're we are looking forward for
those tail winds to appear. Yeah, definitely, definitely. You know,
when for people out there that are looking at getting alone,
looking at getting involved in a real estate transaction, Jessica,
what would you say are some of the things they
(35:10):
could do to help prepare to make the deal go
smoother from a title perspective, Because there's so many things that,
like we talked about, that we discover, we uncover. What
can people do to help better prepare for the deal
to go smoothly?
Speaker 2 (35:25):
Well, the first thing I would suggest is getting a
knowledgeable real estate agent. I mean that is definitely the
number one step, even before fighting the property. Yeah, they
have knowledge about the properties that you're looking at that.
They may look good, but then the agent knows things
about it that aren't going to be feasible for you, right,
(35:45):
So always get a knowledgeable real estate agent. They can
also find properties that you don't even know that aren't listed.
That just that is their job.
Speaker 1 (35:53):
Yeah.
Speaker 2 (35:54):
Also find a good lender, one that knows what they're doing.
They have multiple options for loans just to be able
to get the transaction done. That's the best for you.
Speaker 1 (36:05):
Yeah. So I mean, yeah, you know, every because I've
got a little bit of investment property, every deal that
I quote unquote found was because of a real estate agent.
You know, I just put the word out there I'm
looking for something and I let always let people know
and they brought deals to me. So yeah, real estate agents,
(36:25):
they have their finger on the pulse. And by the way,
both of my commercial loans right now are with my
first financials. Great, so we appreciate y'all. Y'all have been
my lender of choice for some time.
Speaker 3 (36:36):
So yeah, and I want to touch on that as well.
You know, most people hear commercial loans, they think of
business loans, but really a commercial loan is a loan
not to an individual for like their homestead. It can
be to a separate LLC that they set up right
for a rental property, just like in your case. So
keep that in mind. You know, we do a lot
(36:57):
of that here in healthy textas maybe it's some construction
worker or nurse in town that has some money for
a down payment on a rental property. We'll get them
to set up a little LLC real estate holding entity
and we'll lend to that entity, and that's where the
loan will be held, so it's not in your personal name.
Speaker 1 (37:14):
Yeah, that's exactly right, because and I'm so glad you
mentioned that because I did create an LLC Hmming's Rental
Properties LLC so that it protected me. Because when you
have tenants, you're exposed to potential lawsuits. Knock on wood
twenty five years, knock on wood again. So far, so good.
But if you don't have that LLC to protect you,
(37:35):
that it can literally wipe you out. And when you
do have an LLC, that's getting a loan that you
have to get a commercial type of loan. You can't
go to the traditional market for a loan.
Speaker 3 (37:45):
That's right, And we look at something like that, We're
going to look at the rental revenue coming in from
your lease or your rental agreement to cover the loan,
and typically those you know, you're not going to buy
a rental property that doesn't at least pay them moregs.
Speaker 1 (38:00):
Yeah on it.
Speaker 3 (38:00):
So it's a fairly simple process. As long as you
have the down payment there and you have good personal credit,
we can help you out.
Speaker 1 (38:07):
Yeah, definitely, and you'll definitely have So talking about those
LLCs and business entities, Jessica, what's one bit of advice
you would give to individuals out there when they're looking
at buying or selling a property through an entity? What
would you have to say.
Speaker 2 (38:25):
To them on our side of it, either side seller
or buyer is an entity, there's documentation that we need.
We need their operating agreements there, depending on the type
of entity, partnership agreements, anything that says the members, directors
of the company, what their role is, shareholders, what they're
(38:48):
authorized to do, who's authorized to sign all of that.
We do check if they're in good standing with the
Secretary of State and able to do business in the
State of Texas. If not, there's things that we need
to do from there, so that we do need to know. Obviously,
all of that regarding the entity.
Speaker 1 (39:07):
Yeah, and so if you're once again, if you are
an entity, make sure you have your paperwork together. If
you don't have an entity set up yet, get with
a good attorney. There's lots of attorneys out there. They
can handle it for you, all right, So wanted to
make sure We mentioned an upcoming event that you're participating
in Tyler with the Small Business Development Center out of Lamar,
(39:29):
So tell us a little bit about that.
Speaker 3 (39:31):
Yeah, and so on August nineteenth, from eleven to one pm,
First Financial Bank, we're going to partner with the Lamar University,
they're Small Business Development Center, and we're going to put
on a really good lunch and learn and actually it's
going to be sponsored by Capitol Title.
Speaker 1 (39:47):
Well hat's right.
Speaker 3 (39:48):
We'll have free lunch there. So y'all come eat and
learn with us. We appreciate it, Andy, But anyways, this class,
it's really it's focused towards how to get a commercial loan,
and we're gearing this really towards small business owners or
entrepreneurs that have plans or dreams of starting their own business.
(40:08):
And what we see in the market is we see
really good operators. They really know how to run their
business in terms of the operation, but they're not sure
how to go about getting bank financing or how bookkeeping
or what they need to see on the financial side. Yeah,
so that's where we want to come and just educate.
We want to we're going to hint on things of
(40:29):
you know, what documents are needed, how to write a
business plan, how to fill these documents out correctly, and
we're going to give them tips on you know, how
to grow your business and how to get growth capital
from a bank.
Speaker 1 (40:43):
So that what a great opportunity and thank you all
for putting that on. And it's August nineteenth, from eleven
to one at the Small Business Development Center right there
at Lamar University. I think it's off of Rolf Christopher
Drive if I recall. It's been there for a while.
And mister John Lee, he's the director of the Small
Business Developments, so he's putting that together. It's going to
be a great event and we're happy to be participating
(41:06):
in it with you.
Speaker 3 (41:07):
Yeah, and i'd like to say you can go to
SBDC dot uh dot EEDU to find it. Just go
to their events. It's a free event, free food to
come out, hang out and we'll answer any questions you.
Speaker 1 (41:18):
Have perfect Thank you listen. I appreciate y'all both coming
in today to share some great information about commercial real
estate out there. And Jessica just I love working with
you and thank you what you do for Thank you
for what you do for all of our customers. Thank you, Tyler,
thank you for supporting a Capital Title, and we appreciate
our relationship with you and Dana. Thank you for allowing
(41:40):
us to put on your show today. We appreciate you
and listen. If y'all ever have any questions about Title,
you can also call me at four nine six five
eight three six nine five, happy to help you get
you directed in the right direction to take care of
whatever you need. Thank y'all very much. Y'all enjoy your
(42:01):
weekend and looking forward to being here again next time.
Speaker 2 (42:06):
M HM.
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